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    <title>EconStor Collection: MNB Occasional Papers, Magyar Nemzeti Bank</title>
    <link>https://hdl.handle.net/10419/83501</link>
    <description>MNB Occasional Papers, Magyar Nemzeti Bank</description>
    <pubDate>Sat, 02 May 2026 13:48:36 GMT</pubDate>
    <dc:date>2026-05-02T13:48:36Z</dc:date>
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      <title>Green central bank measures and public trust: Empirical evidence from survey data</title>
      <link>https://hdl.handle.net/10419/310447</link>
      <description>Title: Green central bank measures and public trust: Empirical evidence from survey data
Authors: Horváth, Balázs István; Kolozsi, Pál Péter; Varga, Márton; Baranyai, Eszter; Lehmann, Kristóf; Banai, Ádám; Neszveda, Gábor
Abstract: Central banks can play a key role in the change in finance needed for the green transition, but green central bank measures may also have an impact on the general public's trust in the institution. Trust, in turn, is crucial for central banks to successfully conduct monetary policy. The objective of our study is to examine how this trust may change in response to green central bank measures in Hungary, using an independently conducted survey of 1,000 adults. Our results indicate that there is potential for some increase and a limited risk of a decrease in trust as a result of green measures. Although most respondents indicated that their trust in the central bank would not change if it took pro-environmental measures, over one third of respondents thought their trust would increase (37 per cent), while the share of those indicating a decline in trust was low (6 per cent). The majority supports the active involvement of the Central Bank of Hungary in the fight against climate change, but only as long as this does not pose risks to the inflation target and the stability of the banking system. We also find that Hungarians tend to worry about climate change and, accordingly, they consider the central bank's role in environmental sustainability important, but have little knowledge about the tasks of central banks.</description>
      <pubDate>Wed, 01 Jan 2025 00:00:00 GMT</pubDate>
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      <dc:date>2025-01-01T00:00:00Z</dc:date>
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    <item>
      <title>Shapley value-based allocation of system-level risk in the Hungarian banking system</title>
      <link>https://hdl.handle.net/10419/336474</link>
      <description>Title: Shapley value-based allocation of system-level risk in the Hungarian banking system
Authors: Fáykiss, Péter; Hevér, Judit
Abstract: The aim of the paper is to estimate the allocation of system-level risk and capital buffers due to interconnectedness (due to the correlation structure) of Hungarian Other Systemically Important Institutions using a market information-based method. The approach of Tarashev et al. (2015) is followed, with the Shapley value used to allocate the risk measure (VaR and ES) calculated from the aggregate loss distribution of the Hungarian banking system. The methodology applied is employed to investigate the role of size, probability of default and correlation structure on systemic risk. Our results confirm the important role of size in systemic risk. At the 99.9% confidence level, the Shapley value-based share of system-level risk for large banks exceeds the weights calculated based on asset value, while for smaller banks it is below the weights calculated based on asset value. As the confidence level is reduced, a significant shift in the allocation is observed due to the increasing importance of probabilities of default. The allocated share of banks with low probability of default diminishes, while the share of institutions with a higher probability of default increases. Furthermore, it can be observed that for institutions with lower asset values and high comovement with the common factor, systemic risk due to interconnectedness explains a significant share of the allocated system-level risk. Conversely, for banks with higher asset values only approximately 10% of the estimated capital buffer is allocated due to systemic risk from interconnectedness, suggesting an important role for other factors (e.g. size, probability of default and foreign ownership).</description>
      <pubDate>Wed, 01 Jan 2025 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/336474</guid>
      <dc:date>2025-01-01T00:00:00Z</dc:date>
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    <item>
      <title>Estimating deposit interest rate pass-through in central and Eastern European countries using wavelet transform and error correction model</title>
      <link>https://hdl.handle.net/10419/299289</link>
      <description>Title: Estimating deposit interest rate pass-through in central and Eastern European countries using wavelet transform and error correction model
Authors: Hajnal, Gábor; Hosszú, Zsuzsanna; Ozoróczy, Ákos Attila; Dancsik, Bálint
Abstract: Our study deals with interest rate pass-through for household and corporate deposits in the Central and Eastern European (CEE) region, focusing on the tightening cycle starting in the middle of 2021. This period is of particular interest for interest rate pass-through, as the sharp hikes by central banks in response to a high inflation environment followed a period characterised by a significant abundance of liquidity. We examine the relationship between interbank and deposit rates using two methods: wavelet transform and error-correction models. Based on the wavelet analysis, we found a weakening of pass-through and a slowdown in the repricing of deposit rates in the current tightening cycle among the countries of the CEE region, particularly in the household segment. Based on the error-correction models, in the sample including the tightening cycle, a weakening in the degree and speed of interest rate pass-through is consistently observed in the Hungarian and Polish deposit markets; and the extent of pass-through of the benchmark rate declined most in the Hungarian household deposit market among the CEE countries. Furthermore, a comparison of the interest rate paths estimated on the basis of the transmission correlations for the period excluding the tightening cycle starting in 2021 and the actual interest rate time series shows that the pass-through of the benchmark rate is the least efficient in the Hungarian household deposit market among the countries of the CEE region</description>
      <pubDate>Mon, 01 Jan 2024 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/299289</guid>
      <dc:date>2024-01-01T00:00:00Z</dc:date>
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    <item>
      <title>Labour flows in Hungary in 2002-2021 based on a comprehensive set of administrative data</title>
      <link>https://hdl.handle.net/10419/310360</link>
      <description>Title: Labour flows in Hungary in 2002-2021 based on a comprehensive set of administrative data
Authors: Erdélyi, Levente; Szabó, Lajos Tamás
Abstract: In our study, we present the job-to-job, hire and separation rates from 2002 to 2021 based on the comprehensive, anonymous database of the Hungarian State Treasury. We filtered out the distortions in the administrative data, for example company reorganisations, from the labour flows. Job-to-job rates occurred procyclical over the 20 years, while the rate of entries and exits responds less to the cyclical state of the economy. By different characteristics, the rates are heterogeneous in terms of level and dynamics. The regional pattern of entry and exit rates remains stable over time and correlates with the development of districts. There is no difference in cyclicality by gender, but men change jobs more frequently than women. Job transitions have a diminishing chance, as the age increases, and job-to-job flows of the younger age group are also more sensitive to economic conditions. Employees in jobs requiring lower qualifications are more likely to change jobs. The flows between firm size categories are mostly the highest within the same size category. Large companies have the lowest turnover rate relative to the number of employees.</description>
      <pubDate>Mon, 01 Jan 2024 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/310360</guid>
      <dc:date>2024-01-01T00:00:00Z</dc:date>
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